If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
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    We found 2 HDFC Car Loan Eligibility Calculator

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    9.15% - 11.6% Fixed
    Up to ₹5,150 One time fee
    1L Min
    1-7 Years
    Response Time Within 30 minutes
    Rs.2,500 Amazon voucher free PAPERLESS APPROVAL OPTION AVAILABLE
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    12.25% - 13.99% Fixed
    Up to ₹4000 One time fee
    75K Min
    1-7 Years
    Response Time Within 30 minutes
    Rs.2,500 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria

    HDFC Car Loan Eligibility Calculator is Rated as "Excellent!" by 6114 Users

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    An Overview about HDFC Car Loan

    HDFC has attractive car loan offers for new and used cars. It has appealing interest rates, easy repayment tenures and large loan amounts. Customers can avail of three different car loans to suit their needs. You can avail of a loan for:

    • New Car
    • Pre-Owned Car
    • Loan Against Car

    HDFC offers car loans that finance 100% of your cost to purchase the car. Repay the loan over 7 years. You can check if you are eligible for a car loan in a minute and be approved of one in half an hour. Enjoy fixed interest rates and stability of your EMI every month. HDFC aims at making the process fast and hassle-free for their customers. With low down payments, competitive pricing, transparency and deals offered to customers, this car loan stands out as one of the best offers. HDFC ensures that there are no hidden charges in the loan process which makes customers happy with the clarity of the loan amount and applicable fees.

    HDFC also has tie ups with a number of authorised pre-owned car dealers to provide loans to customers seeking used cars. Get fast approvals and doorstep service with this loan. The car should not be older than 7 years for private use, and 6 years for commercial use.
    And even if you don’t have income documents to present, the bank has a car loan that makes it even more easier for you. The HDFC Loan Against Car Loan gives you an interest rate lower than 2% on a personal loan. You can get a maximum loan amount based on the value of the car.

    HDFC Car Loan Eligibility

    The HDFC car loan is offered to salaried individuals as well as self-employed businessmen. Your eligibility for a car loan is based on a number of factors such as your age, income and whether the bank can be sure you are capable of repaying the loan. You are also required to submit documentation that can support your identity, age, address and income claims.

    Apply for Car Loan Online

    New cars

    Employment

    Minimum age

    Maximum age at the end of loan tenure

    Work experience

    Minimum annual income

    Minimum turnover

    Landline facility required

    Salaried

    21 years

    60 years

    2 years, having worked with the same employer for at least a year

    Rs. 1,80,000

     

    Yes

    Sole Proprietorship

    21 years

    65 years

    2 years in business

    Rs. 60,000 for standard cars.

     

    Yes

    Rs. 1,00,000 for mid-sized and premium cars

    Partnership Firms

         

    Rs. 60,000 for standard cars.

     

    Rs. 4,50,000

    Yes

    Rs. 1,00,000 for mid-sized and premium cars

    Private Limited Companies

         

    Rs. 60,000 for standard cars.

     

    Rs. 4,50,000

    Yes

    Rs. 1,00,000 for mid-sized and premium cars

    Public Limited Companies

         

    Rs. 60,000 for standard cars.

     

    Rs. 4,50,000

    Yes

    Rs. 1,00,000 for mid-sized and premium cars

     

    Pre-owned cars

    Employment

    Minimum age

    Maximum age at the end of loan tenure

    Work experience

    Minimum annual income

    Minimum turnover

    Landline facility required

    Salaried

    21 years

    60 years

    2 years, having worked with the same employer for at least a year

    Rs. 1,00,000

     

    Yes

    Sole Proprietorship

    25 years

    65 years

    3 years in business

    Rs. 60,000

     

     

    Yes

    Partnership Firms

         

    Rs. 60,000

     

    Rs. 4,50,000

    Yes

    Private Limited Companies

         

    Rs. 60,000

     

     

    Yes

    Public Limited Companies

         

    Rs. 60,000

     

     

    Yes

    Hindu Undivided Family- HUF

         

    Rs. 60,000

     

    Yes

     

    Loan against car

    Employment

    Minimum age

    Maximum age at the end of loan tenure

    Work experience

    Minimum annual income

    Minimum turnover

    Landline facility required

    Salaried

    21 years

    65 years

    2 years, having worked with the same employer for at least a year

    Rs. 1,00,000

     

    Yes

    Sole Proprietorship

    21 years

    65 years

    3 years in business

    Rs. 60,000

     

     

    Yes

    Partnership Firms

         

    Rs. 60,000

     

    Rs. 4,50,000

    Yes

    Private Limited Companies

         

    Rs. 60,000

     

     

    Yes

    Hindu Undivided Family- HUF

         

    Rs. 60,000

     

    Yes

     

     

    HDFC Car Loan Documentation required

    In order to complete the eligibility process, you need to submit documentation to prove your identity, age, address and income. The following are the documents you will need.

    • ID proof -
      • For salaried individuals and businessmen: Any official document that can be used to identify yourself such as a copy of your passport, voters ID, PAN card, driver’s licence, ration card.
      • For Partnerships: Partnership deed
      • Private Limited Companies: Memorandum and Articles of Association / Certificate of incorporation
    • Age proof - Any official document that can be used to verify your age will suffice such as a copy of your passport, voters ID, PAN card, driver’s licence, ration card, employer certificate or ID, School or College leaving certificate.
    • Address proof - You are required to prove your place of residence through a ration card, driver’s licence, Passport, telephone bill, electricity bill, credit card statement with a copy of your credit card, or an employer’s certificate.
    • Signature proof - The bank also needs to verify your signature as it appears on your passport, driver’s license, credit card statement, banker’s verification, copy of margin money paid to the bank.
    • Income proof
      • For salaried employees, you need to present your latest salary slip with the latest Form 16/ Latest Income tax returns. You can submit the HDFC bank corporate salary account statement for the last 3 months for salaries above Rs. 8,000.
      • For businessmen, you need the latest/previous year’s Income tax returns with the advance tax paid challan or the latest IT assessment order.
      • For Partnership,Private and Public Limited Companies, you need the latest ITR and balance sheet along with Profit and Loss account.
    • In case you are transferring your loan, you need to submit the foreclosure statement from the previous bank.
    • The repayment schedule for 9 months for personal vehicle, and for 12 months for commercial vehicles.

    Factors Affecting HDFC Car Loan Eligibility

    Your HDFC Car Loan Eligibility can be affected by a number of factors. A few have been listed below.

    CIBIL score - CIBIL score is your credit score assigned by the Credit Information Bureau Limited. A high credit score could make your loan process easy and smooth. A low credit score could prove difficult to secure a loan.

    Age - You can get a loan only when you reach the age of 21 years. The maximum age poses a greater obstacle. You must finish the repayment period by the age of 65 years. This is where age can affect your eligibility.
    Income - The loan amount you are seeking to purchase your car may not always be the same as what you are eligible for. Your loan amount depends greatly on how much income you can show. If you end up being short on the eligible income scale, you can add on your immediate family member’s income to compensate the difference.

    Debt - Any debt you already have might affect your eligibility. Your debt-to-income ratio is a very important factor while taking out a major loan. If you already have another loan, or credit card debt, this could significantly reduce your eligible loan amount or total eligibility.

    How CIBIL Score affects HDFC Car Loan Eligibility

    Your CIBIL score is determined by the Credit Information Bureau (India) Limited which has come to play a very crucial role in India’s Financial System. CIBIL collects and stores all information related to your credit history like credit cards, loans, payments, defaults, spending patterns, and so on. A number of things could negatively affect your score like defaulting on your EMIs or minimum due payments. A lower score reduces the amount of loan you are eligible for. In extremely bad situations, you might not be eligible for a loan at all. You will need to build your score back through a long process. So it is important when you take credit from banks and financial institutions to pay your dues on time and play by the rules to ensure a good credit score for when you need it again.

    How to Increase your HDFC Car Loan Eligibility

    If you find yourself not eligible for the loan amount you are looking for, there are ways to change that.

    Pay off other debts - You will need to repay other loans and credit cards in order to increase the amount of loan you might get. Never take a personal loan right when you plan to take a big car loan or home loan in the near future. This could affect your debt-to-income ratio, and this will significantly reduce your loan amount.

    Co-applicants - You can include the income of your spouse, father, mother, son, daughter, brother and sister to increase your eligibility. They will be brought on as co-applicants of the loan even if the car is not in their name.

    Increase your credit score - Find ways to bring your credit score up. You could spend more on your credit card and pay it back ahead of time. CIBIL scores are tricky because even closing a credit card can put a ding in your score simply because your available credit limit is significantly reduced. So do your research and find ways to improve your score.

    HDFC Bank Car Loan Eligibility Calculators

    HDFC Bank offers a quick and easy eligibility calculator on its website. Simply enter your details to find out if you are eligible for a loan. You can also view the exact total cost and EMI of your car loan. You can then decide whether the loan is suitable for you and apply online. Get special discounted rates of interest when you apply for a loan online.

    You can also check your eligibility on BankBazaar.com. Enter your details and view the results of the loans you are eligible for. You can read further about the HDFC Car Loan offered and apply online directly through BankBazaar.com.

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  • Car Loan Reviews

    • HDFC Bank Car Loan
      "Good"
      0.5 4.5/5 "Excellent!"
      I got the car loan with the HDFC bank and the interest rate is around 11.5%, also the customer service was an average one. I would like to suggest that they need to provide the regular alerts to the customers relating to the breakdown of the EMI and charges.
      Was this review helpful? 0
      , rajkot
      Reviewed on Jun 21, 2017
    • HDFC Bank Car Loan
      "Better Service"
      0.5 5.0/5 "Blown Away!"
      I had received good response from HDFC bank towards my car loan application. I had been contacted by the bank for the loan and they provided the required information for the same. But I dropped my plan in taking the car loan so I just closed the application.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 21, 2017
    • HDFC Bank Car Loan
      "Good Response"
      0.5 4.0/5 "Great!"
      Initially I applied for the car loan with HDFC bank for a particular car model. But later I have decided to go for Nissan for which I got minimum rate of interest from other bank so I did not proceed my car loan with HDFC. Otherwise I do not have any issues with the bank.
      Was this review helpful? 0
      , nagpur
      Reviewed on Jun 21, 2017
    • HDFC Bank Car Loan
      "Immediate Response"
      0.5 5.0/5 "Blown Away!"
      Actually on the same day I had applied for the car loan with two different banks, but HDFC bank contacted me immediately and their response was very fast. Hence I processed my car loan with HDFC band and got the loan without any hassles. The services are good with HDFC.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 21, 2017
    • HDFC Bank Car Loan
      "Excellent "
      0.5 5.0/5 "Blown Away!"
      Due to some personal reason, I have not taken the car loan with the HDFC bank and the interest was around 8.5%. Customer service and other things are really fine with the HDFC bank. I have not seen any hiccups with them till now, also I would like to go ahead with them in future.,
      Was this review helpful? 0
      , guwahati
      Reviewed on Jun 21, 2017
    • HDFC Bank Car Loan
      "Excellent "
      0.5 5.0/5 "Blown Away!"
      Rate of interest for the car loan with the HDFC bank was nominal one. The loan amount got disbursed to my account within two days of time, also the services were good one with them. Processing charges were really nominal one, also they have funded around 100% cost of ex showroom price of the car.
      Was this review helpful? 1
      , varanasi
      Reviewed on Jun 20, 2017
    • HDFC Bank Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I did not wish to take the car loan from HDFC Bank because they were high on the rate of interest. They were offering me a rate of around 16% and the bank was also not wanting to negotiate where in other bank is ready to offer at 10.50 or 11% on the same. It was not a very satisfactory experience overall.
      Was this review helpful? 1
      , ahmedabad
      Reviewed on Jun 20, 2017
    • HDFC Bank Car Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I availed car loan from HDFC bank and it has been closed as well. The interest rate was 10.49% which is very nominal when compared with other banks. The customer service is always good with HDFC bank. They done with the loan process in a very good way.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 20, 2017
    • HDFC Bank Car Loan
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      The process was speedy with HDFC bank car loan, in fact there was a delay from my end, because of the documentation . I am happy with the loan amount. The rate of interest is nominal with HDFC car loan. Still it can be reduced in future, because other banks are offering lower interest rates than HDFC bank. I am satisfied with HDFC bank service.
      Was this review helpful? 0
      , kota
      Reviewed on Jun 20, 2017
    • HDFC Bank Car Loan
      "Satisfactory"
      0.5 3.0/5 "Satisfactory"
      When I placed the request at the online channel for HDFC car loan, I got a immediate call from them I didn't get the car loan from HDFC bank, because I have postponed my plan at present I have taken car by paying cash and they responded to my application immediately and the loan amount I thought of taking was 4 to 4.5 lakhs.
      Was this review helpful? 0
      , lucknow
      Reviewed on Jun 20, 2017
    • HDFC Bank Car Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      Car loan process went good with HDFC bank.Disbursement happened on time The documentation process was very smooth and easy. The rate of interest is competitively low with Hdfc bank. The response and the follow up part was perfect with Hdfc bank. Over all I can say it was an excellent service by Hdfc.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 20, 2017
    • HDFC Bank Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      HDFC bank just took around a days to disburse my car loan. The documentation process was very smooth and easy. The rate of interest is 8.40% competitively low with Hdfc bank. The response and the follow up part was perfect with Hdfc bank. Over all I can say it was an excellent service rendered by HDFC.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 20, 2017
    • HDFC Bank Car Loan
      "Excellent"
      0.5 2.0/5 "Expected more"
      The car loan application process is very good with HDFC bank. They have contact me but it was bit delay and I had dropped the plan of taking the car loan with them. Overall the services offered by the executives for the car loan application was excellent. Loan amount thot of applying is 2 to 3 lakhs.
      Was this review helpful? 1
      , pune
      Reviewed on Jun 19, 2017
    • HDFC Bank Car Loan
      "Very Good Experience"
      0.5 5.0/5 "Blown Away!"
      HDFC is outstanding, the team supports me a lot, the charges are transparent and they gave complete break up. Even the guys came and took the form after office hours based on my convenient. I had applied for the loan of Rs. 6.5 lakhs, amount created around Rs.6.2 lakhs. I am fine with those charges verymuch.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 19, 2017
    • HDFC Bank Car Loan
      "Its Excellent"
      0.5 5.0/5 "Blown Away!"
      When I placed the request in online channel for HDFC car loan, I got a immediate call from them and instantly disbursed the amount Rs.3.5 lakhs for the tenure of six years with the interest rate 9.25% it is nominal as per the market. I am very fine with them.
      Was this review helpful? 0
      , pondicherry
      Reviewed on Jun 19, 2017
    • HDFC Bank Car Loan
      "Response Was Not Good"
      0.5 2.5/5 "Just OK"
      The prime reason for not availing the car loan with HDFC bank would be because of communication executive called regarding my application but there response wasn't good at all I had applied for 5 lakh loan. But, I dropped the plan of taking car loan from them.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 18, 2017
    • HDFC Bank Car Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I had not got the Car loan from HDFC bank because I purchased car by paying cash. Response was pretty fine with them. Unfortunately I am not able to take the loan from them I had applied for five lakh rupees loan initially I have received call from them, later I did not received any call from them I thought of informing them to cancel the application for car loan.
      Was this review helpful? 0
      , rohtak
      Reviewed on Jun 17, 2017
    • HDFC Bank Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      HDFC bank just took around 3 days to disburse my car loan. The documentation process was very smooth and easy. The rate of interest is competitively low with Hdfc bank. The response and the follow up part was perfect with Hdfc bank. Over all I can say it was an excellent service by Hdfc.
      Was this review helpful? 1
      , nellore
      Reviewed on Jun 17, 2017
    • HDFC Bank Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      Car loan process went good with HDFC bank. Disbursement happened on time. The car dealer had completely taken care off my car loan so my involvement was very less while processing the loan with HDFC. Everything was lined up properly and no issues during the process the loan amount I had applied for 6.25 lakhs and ROI is 9.5% and processing fee and other charges were 16000 rupees and the total tenure was for a period of 5 years.
      Was this review helpful? 0
      , nellore
      Reviewed on Jun 17, 2017
    • HDFC Bank Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      HDFC did not me on the car loan process, As a customer I gave request for HDFC for car loan even they fixed the appointment, but no one turned back, I cannot say anything wrong about HDFC because During the year of 2016, I availed car loan from HDFC bank. I am happy with the bank for the car loan process because there was no challenges with the bank while taking the car loan. Customer service is also good.
      Was this review helpful? 0
      , nellore
      Reviewed on Jun 17, 2017
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